Preferences Preferences To safeguard0
Contact us
Paris Ouest (Paris 16ème - Victor Hugo)
Sotheby's International Realty
Paris Ouest (Paris 16ème - Auteuil)
Sotheby's International Realty
Paris Ouest (Paris 17ème - Etoile Monceau)
Sotheby's International Realty
Paris Ouest (Neuilly-sur-Seine)
Sotheby's International Realty
Paris Ouest (Hauts-de-Seine - Yvelines)
Sotheby's International Realty
Paris Marais
Sotheby's International Realty
Paris Est
Sotheby's International Realty
Send an email

Preferences

Currency

My research
  1. Home
  2. >
  3. All news
  4. >
  5. Press
  6. >
  7. Prestige real estate always seduces
Posted on 28/10/2020

Prestige real estate always seduces

LE MONDE

Share this link
Prestige real estate always seduces
While this absence raised fears of a drop-in sales, there was a surge in flash sales, such as a house with a garden in Neuilly sold in one day at 3.3 million euros. Sales are still present and remain well above the average of about 10,000 euros per square meter, they are approaching more than 15,000 euros per square meter. In addition, when they have exceptional elements such as a beautiful location or outdoor space, prices can rise to 20,000 euros.

To explain this surge, one must understand that confinement has reshaped the desires of buyers. Being confined and experiencing teleworking has made people consider a longer time in the main residence, which makes them want more space. Also, the coronavirus crisis has caused the CAC 40 to collapse by 15%, leading investors to focus on investing in stability, namely real estate. Indeed, this is safe because real estate in Paris is constantly increasing.

Alexander Kraft, president of Sotheby's International Realty France and Monaco, observes an increase of 20% of the sales of its agencies between January and June 2020. An astonishing score whereas the foreign customers cannot reach the capital anymore. But this absence still leaves us to fear a more demanding market. Goods without defects sell very quickly and sometimes more expensive than their estimated value, while goods, even with few defects, take much longer to sell and are subject to negotiations.

Find the complete article here. 

Paris West Sotheby's International Realty, specialist in luxury and prestige real estate in Paris

The latest articles

Real estate: real prices in Île-de-France, city by city
Read more

Real estate: real prices in Île-de-France, city by city

Real estate transactions in the Paris Region fell by a significant 25% in the second quarter of 2023, affecting all cities in the region. This trend is marked by an extension of the average property sales time, from just one month in 2022 to three and a half months...

Read more
France's prestige real estate market to post
Read more

France's prestige real estate market to post "surprisingly good results" in 2023

Despite a challenging economic environment, marked by inflation, rising interest rates, tightened credit conditions, the depreciation of the euro, and the situation in Ukraine, Sotheby's International Realty France-Monaco has recorded surprisingly positive...

Read more